Friday, 13 September 2013

TNK-BP minorities vs Igor Sechin: fair fight? | beyondbrics

TNK-BP minorities vs Igor Sechin: fair fight? | beyondbrics:

"
Minority shareholders in TNK-BP got a raw deal when Rosneft took over the Anglo-Russian oil major this year.

But even if the odds are stacked against them, they’re not yet ready to give up the fight. Having failed to persuade Igor Sechin, Rosneft’s chief executive, to offer a fair price for their shares, the minorities have taken the bold step of launching a personal attack on the close associate of president Vladimir Putin.

A group of TNK-BP minority shareholders has filed a written complaint against Sechin (pictured) with the Russian Union of Industrialists and Entrepreneurs, an independent business lobby group, Vedomosti reported on Friday. The letter, a copy of which was obtained by the Russian business daily, accuses Sechin of breaching “corporate and business etiquette”."

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